The ICO market is no longer experiencing such a boom as in 2017, some projects are still appearing. It’s not worth investing in an ICO project just because it seems cool. Before making a decision, it is necessary to thoroughly study the information about the team and the project itself. You can learn more about this in our manual. With Trustedbrokerz you can get the proper access to the crypto trading platform.
What should a responsible crypto trader do in 2019?
So, you care about security on cryptocurrency exchanges, carefully study ICOs before investments and analyze altcoins before trading them. But for responsible cryptocurrency trading in 2019, this is not enough. Here’s how to play the lead against cryptocurrency scams.
Consider moving to a decentralized exchange
What happens to decentralized digital assets on centralized platforms? Our assets are susceptible to cyber-attacks. The best option for a crypto trader this year is to use a decentralized exchange. Unlike centralized cryptocurrency exchanges, decentralized ones do not use the services of third parties to store client cryptocurrencies. They also do not have intermediaries who manage private keys. Each user has access to their private keys.
In addition, decentralized exchanges are resistant to censorship, that is, central authorities cannot ban or close them. They also contribute to faster and cheaper transaction processing, have enhanced security, and in some cases use smart contracts to accelerate the transfer of digital assets from wallet to wallet. In fact, decentralized exchanges do not have a single point of failure, a single point of regulation and a single point of control.
Use different types of wallets
Hardware wallets are the safest: private keys are stored securely, they are not prone to computer viruses and use high-level encryption technologies. Advanced secure hardware wallets are at your service. They guarantee multilevel cryptocurrency security and its inaccessibility to attackers.
But hardware wallets are not ideal for all situations, especially for day traders. Use hardware wallets when you want to store cryptocurrency for a long time. But if everything needs to be traded all the time, then hardware wallets are inconvenient.
That means a trader who constantly transfers money back and forth, from the exchange to the exchange and from wallet to wallet, needs an online wallet. You need to make sure the high level of security of such an online wallet. Use strong passwords and two-factor authentication, as well as create a separate email specifically for crypto-wallets.
Additional Tips for Responsible Crypto Trading in 2019
Most crypto traders are lazy. You invest a lot in virtual currencies, but you care little about the safety of your hard-earned coins. It’s time to think. While you are preparing for 2019, hackers do not sleep at night, inventing ways to cash in on you. What else can be done?
Be careful with browsers
Pay attention to your computer
Are you using the latest firewall? Is your operating system capable of withstanding any attacks by cybercriminals? Do not think that your system meets all the latest requirements just because everything is working fine. Make sure you have an antivirus, firewall and a secure operating system.